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KELLOGG, IDAHO. New Jersey Mining Company
(Symbol: NJMC - OTC Bulletin Board) has received the assay
results from the remaining three holes of its recently completed
core drilling program at the Silver Strand mine in northern
Idaho. DDH02-03 cut 1.61 meters (5.3 feet) of 15.60 grams
per tonne (gpt) gold and 316 gpt silver. The results extend
high grade gold and silver mineralization on strike to the
east.
Assays of the vein intercepts from the three remaining holes
(DDH02-02, 03 & 05 ) are summarized below. Results of
DDH02-04 and DDH02-01 can be found in our press release dated
December 19, 2002. (opt = ounces per short ton and 1 meter
= 3.28 feet):
|
Hole ID
|
From (m)
|
To (m)
|
Length (m)
|
Gold Grade gpt
|
Gold Grade gpt
|
Silver Grade gpt
|
Silver Grade gpt
|
|
DDH02-02
|
22.25
|
24.39
|
2.14
|
3.72
|
0.109
|
372
|
10.85
|
|
DDH02-03
|
18.60
|
21.95
|
3.35
|
10.17
|
0.297
|
171
|
4.99
|
|
including
|
19.73
|
21.34
|
1.61
|
15.60
|
0.455
|
316
|
9.22
|
|
DDH02-05
|
30.88
|
31.34
|
0.46
|
8.91
|
0.260
|
65
|
1.90
|
NJMC completed approximately 250 meters of core drilling
among five holes at the Silver Strand by the first of December
2002. The drilling was done from the No. 3 Level underground
workings at a depth of 100 meters below the surface. The purpose
was to extend the mined ore shoot at depth. The first three
holes (DDH02-01,02 & 03) were inclined at 45° downward
and fanned out along strike and the last two holes (04 &
05) were deeper holes inclined at 63°.
Each hole penetrated the vein demonstrating the continuity
of the vein structure at depth, and also indicating an increasing
gold grade at depth. Vein intercepts ranged from 20 to 40
meters vertically below the No. 3 Level. The exploration potential
of the Silver Strand mine has been increased by the drilling
program as the boundaries of the ore zone have not been defined
toward the east and to depth.
The Silver Strand mine is a gold-silver vein hosted in the
prolific silver-producing Revett formation of the Coeur d’Alene
Mining District. The Silver Strand is located on the western
margin of the district. From 1978 to 1981 the Silver Strand
produced 13,752 tons of ore grading 0.093 ounces per ton (opt)
gold and 9.6 opt silver.
Samples were obtained by cutting intervals of drill core
in half and submitting one-half to ALS Chemex for analysis
and retaining one-half for visual inspection.
Given the encouraging drilling results at the Silver Strand,
the Company has initiated the permitting process with the
USFS for a seasonal mining operation. Ore from the Silver
Strand would be shipped to the New Jersey mill for concentration.
The Company is in the process of collecting data and writing
the plan of operations and hopes to submit a plan this spring.
Revised ore resource calculations and mine engineering tasks
will be completed concurrently with the permitting process.
New Jersey Mining Company is involved in exploring for and
developing gold, silver and base metal ore resources in the
Coeur d'Alene Mining District of northern Idaho. The Company
has a portfolio of five mineral properties in the Coeur d'Alene
Mining District: the New Jersey mine, the Silver Strand mine,
the Lost Eagle project, the CAMP project and the Wisconsin-Teddy
project.
Disclaimer: This press release may contain
forward-looking statements within the meaning of Section 27A
of the Securities Act and Section 21E of the Exchange Act. Forward-looking
statements are inherently subject to risks and uncertainties,
many of which cannot be predicted with accuracy, and some of
which might not even be anticipated. | 
